Convertible debenture issue to Svedala employees
Convertible debenture issue to Svedala employees nearly fully subscribed At an Extraordinary Shareholders Meeting of Svedala Industri AB on May 20, it was resolved to issue convertible debentures to employees within the Svedala Group. The subsequent offer resulted in approximately 1,180 applications to subscribe. The convertible debenture loan totals approximately SEK 226 M. Maximum subscription amount was SEK 240 M. The loan period extends from July 30, 1998 to maturity on July 30, 2003 and carries an annual interest corresponding to the 12-month STIBOR less 0.50 percentage points. Conversion can be exercised from August 1, 2001 through July 15, 2003. The conversion price is SEK 234. At full conversion, 964,375 shares will be added, corresponding to an approximately 2-percent dilution of the company's share capital and voting rights. Please address questions and requests for further information to: Rolf Jönegård, Executive Vice President, phone: +46 40 24 58 11 Svedala Industri Information department Svedala Industri is the world's leading manufacturer of equipment and systems for construction and mineral processing industries and materials handling. Annual sales of the Svedala Group, which has subsidiaries in nearly 50 countries, amount to approximately SEK 15 billion, with about 11,000 employees. Operations outside Sweden account for slightly more than 95%.